ArThi Management: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ArThi Management
Largest movements
- Cash +€152,731
up €152,731 (+78.3%), from €195,131 to €347,861
mainly Current investments (+€125,000) and Net result for the year (+€17,500)
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Receivables within one year -€5,767
down €5,767 (-48.1%), from €11,994 to €6,227
of which Other amounts receivable: -€10,521
- Reserves +€17,500
up €17,500 (+5.6%), from €312,024 to €329,524
- Trade debts +€6,871
up €6,871 (+4,540%), from €151 to €7,022
- Taxes +€3,237
up €3,237 (+43.7%), from €7,413 to €10,650
- Financial income +€2,555
up €2,555 (+154%), from €1,656 to €4,212
- Depreciation +€385
up €385 (+28.7%), from €1,341 to €1,726
- Gross operating margin -€345
down €345 (-1.3%), from €26,677 to €26,332
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €335,379 | €358,984 | +€23,605 | +7.0% |
| Fixed assets | 21/28 | €3,138 | €4,775 | +€1,637 | +52.2% |
| Tangible fixed assets | 22/27 | €3,138 | €4,775 | +€1,637 | +52.2% |
| Furniture and vehicles | 24 | €3,138 | €1,587 | -€1,551 | -49.4% |
| Other tangible fixed assets | 26 | - | €3,189 | +€3,189 | |
| Current assets | 29/58 | €332,241 | €354,209 | +€21,968 | +6.6% |
| Amounts receivable within one year | 40/41 | €11,994 | €6,227 | -€5,767 | -48.1% |
| Trade receivables | 40 | €366 | €5,121 | +€4,755 | +1,299% |
| Other amounts receivable | 41 | €11,628 | €1,106 | -€10,521 | -90.5% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €195,131 | €347,861 | +€152,731 | +78.3% |
| Deferred charges and accrued income | 490/1 | €117 | €121 | +€4 | +3.4% |
| Total equity and liabilities | 10/49 | €335,379 | €358,984 | +€23,605 | +7.0% |
| Equity | 10/15 | €330,624 | €348,124 | +€17,500 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €312,024 | €329,524 | +€17,500 | +5.6% |
| Distributable reserves | 133 | €312,024 | €329,524 | +€17,500 | +5.6% |
| Amounts payable | 17/49 | €4,755 | €10,860 | +€6,105 | +128% |
| Amounts payable within one year | 42/48 | €4,755 | €10,860 | +€6,105 | +128% |
| Trade debts | 44 | €151 | €7,022 | +€6,871 | +4,540% |
| Suppliers | 440/4 | €151 | €7,022 | +€6,871 | +4,540% |
| Taxes, remuneration and social security | 45 | €1,925 | €1,411 | -€513 | -26.7% |
| Taxes | 450/3 | €1,925 | €1,411 | -€513 | -26.7% |
| Other amounts payable | 47/48 | €2,679 | €2,427 | -€252 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,341 | €1,726 | +€385 | +28.7% |
| Other operating charges | 640/8 | €746 | €513 | -€233 | -31.2% |
| Gross operating margin | 9900 | €26,677 | €26,332 | -€345 | -1.3% |
| Operating profit (loss) | 9901 | €24,589 | €24,092 | -€497 | -2.0% |
| Financial income | 75/76B | €1,656 | €4,212 | +€2,555 | +154% |
| Recurring financial income | 75 | €1,656 | €4,212 | +€2,555 | +154% |
| Financial charges | 65/66B | €108 | €154 | +€46 | +42.2% |
| Recurring financial charges | 65 | €108 | €154 | +€46 | +42.2% |
| Profit (loss) for the period before taxes | 9903 | €26,137 | €28,150 | +€2,012 | +7.7% |
| Income taxes | 67/77 | €7,413 | €10,650 | +€3,237 | +43.7% |
| Profit (loss) for the period | 9904 | €18,725 | €17,500 | -€1,225 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,725 | €17,500 | -€1,225 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.